For the first time since 2016, the UK overtook China as the fourth-largest market for Indian goods during the first half of the fiscal year.
India’s products outflow to Singapore was 16 percent lower in 2023–2024 than its neighbor, while its exports to the UK were 29 percent lower. Singapore’s exports are currently only 6% less than China’s, while the UK’s sales increased by 5.8%.
India’s exports decreased 9.4% in the first half of fiscal 2024–25 compared to the same period last year. However, exports to the UK increased by 12.2 percent over the previous year. Singapore’s exports increased by 2.2 percent.
The majority of exports headed for the UK were smartphones, medications, and other pharmaceutical items.
Seventy-five percent of the year’s exports to the UK were petroleum products.
In the first half of 2024–25, exports of pharmaceuticals and medications increased by 9.5 percent, while shipments of electronic items increased by 21.4 percent.
